Are cigar collections covered under your Home owners policy for fire and theft

[lakeeden1]

New to the site and cigars, I'm amazed at some the the cigar collections and stashes that are acquired and was wondering if they would be covered for fire and theft by home owners policy, any thoughts on the subject.

[Ryan]

I think NC's would if you keep the reciepts....not really sure how that works. 

I remember one guy a long time ago taking out insurance on some very expensive sticks and then claiming fire damage as each one went up in smoke...seriously...this goof tried to claim the fire insurance on em after smoking them.  As he was technically correct I suppose he won that lawsuit, but was convicted of arson and fraud I do believe.  It was in Reader's Digest "That's Outrageous" a long time back though.

Sorry to derail here.  I'd call an insurance company and just ask.  Wine can be insured so I assume cigars could be as well.

[lakeeden1]

I have some collecting in the future before I need to worry, the only theft that occurs so far is my brother seems to like a free cigars...

[TripleLigero]

Ryan is correct on this one! The guy claimed that he lost his cigars over a series of small fires and he collected... insane! Just like other valuable items in your house such as expensive artworks and antiques, which one needs to purchase separate insurance for, valuable cigars and humidors need their own insurance I believe to be covered; I think... not 100% sure on this though...

[randomhero1090]

The simple answer is yes, as long as they are itemized and listed on your policy.  Normally that requires some type of appraisal.  Receipts are not always required.  For example, a diamond wedding ring can be listed via appraisal, and you don't need to provide the original receipt.

It's all about establishing value.  Call your agent and get them covered.  Each and every insurance carrier out there is different.

However, illegal items cannot be covered.  Period.  You have no idea how many idiots out there try to claim losses on illegal items.  And i'm not talking about cigars.  I'm talking drugs, unlicensed firearms, stolen property, etc etc.

[jimbobber]

Great topic! Personally, I would LOVE to read an actual, official document from any type of insurance company's coverage for a "cigar collection" and, for the story that many have heard of..... I wonder.

[url=http://www.breakthechain.org/exclusives/cigars.html]http://www.breakthechain.org/exclusives/cigars.html[/url]

[randomhero1090]

I'm an insurance agent that works as a sales manager for a large company handling their insurance sales.  P&C insurance, not 401ks or Health.

I can assure you guys that you can cover cigars.  I just spoke with the CPCU in my office.  It's not an issue, but as he said, not ALL carriers will cover cigars because they are a consumable item.

Again, you add a "rider" which has a schedule of personal property covered and the restrictions of the items' coverage.  Usually covers per thousand.

[earnold25]

It really depends on your policy.  Most will cover documented collections up to $10,000 in value.  If it exceeds that you'll likely need a rider and to specifically state the items insured.

[randomhero1090]

But make sure you read the conditions of your policy.  Again, its a consumable.

[mcgoospot]

As pan attorney who heard this story a number of times I decided to research this issue regarding the guy who allegedly smoked his cigars, putmin an insurance claim and was eventually convicted of arson. It never happened.  It is an urban legend. Look it up.

You can insure cigars however as personal property.


quote author=Ryan link=topic=7137.msg37510#msg37510 date=1295715696]
I think NC's would if you keep the reciepts....not really sure how that works. 

I remember one guy a long time ago taking out insurance on some very expensive sticks and then claiming fire damage as each one went up in smoke...seriously...this goof tried to claim the fire insurance on em after smoking them.  As he was technically correct I suppose he won that lawsuit, but was convicted of arson and fraud I do believe.  It was in Reader's Digest "That's Outrageous" a long time back though.

Sorry to derail here.   I'd call an insurance company and just ask.  Wine can be insured so I assume cigars could be as well.
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